Commercial
DRAFT DETAILS ONLY.
An opportunity to acquire an excellent commercial / residential investment property currently producing £9,632 p.a but if fully let would produce a combined income in the region of £13,000 p.a.
A prominently located, detached, mixed use property forming the corner of Hillcrest Road and Cardigan Street briefly comprising two lock up retail units, a fast food outlet which is currently tenanted and a former hairdressing salon which is now vacant. To the first floor there is a three bedroomed tenanted flat. To the rear of the property there is a large yard and off road parking to two sides of the property.
In more detail property comprises the following
Sales Shop One
A fast food outlet with retail area, kitchen, storeroom and W.C. The shop is currently let on an eleven year tenancy agreement commencing on 26th September 2005 at £75 per week.
Sales Shop Two
A former hairdressing salon with retail area kitchen\restroom and W.C. Currently vacant but was last let at £3380 per annum.
First Floor Flat
With hallway, lounge, kitchen, bathroom and separate W.C. The flat is let on a 12 month agreement from 1st November 2011 at £476 per calendar month.
Outside
The property occupies a large corner plot consisting of a large rear yard and ample off road parking.
Note
The auctioneers have not inspected the property and have relied on the vendor for information.
Directions
From the Pentagon Island take the exit onto Nottingham Road, continue towards Chaddesden and take the 5th left onto Wiltshire Road, then 4th left onto Cardigan Street. The property will be found shortly on the left hand side on the junction with Hillcrest Road.
Vendors Solicitors/Licensed Conveyancers
Moody & Woolley, 40 St. Mary's Gate, Derby DE1 3JZ
Tel 01332 344221
Tenure
Freehold. Part let; part vacant.
Conditions Of Sale
The Conditions of Sale will be deposited at the offices of the auctioneers and vendors solicitors/licensed conveyancers seven days prior to sale and the purchaser shall be deemed to have knowledge of same whether inspected or not. Any questions relating to them must be raised prior to 11.30 am. Prospective purchasers are advised to check with the auctioneers before the sale that the property is neither sold or withdrawn.
The purchaser will also be deemed to have read and understood the auction conduct notes printed within the sale catalogue.
Note
Prospective purchasers will need to register within the auction room before the sale commences. Two items of identity will be required together with an indication of how a contractual deposit will be paid. We do not take cash or credit card deposits.
The sale of each lot is subject to a buyers contract handling fee of £495 (inc VAT) payable on the fall of the hammer.
FOR SALE BY AUCTION: THURSDAY 1ST DECEMBER
AT PRIDE PARK STADIUM, DERBY
COMMENCING AT 11.30 AM
INVESTMENT OPPORTUNITY, detached mixed use premises
Two lock up retail units, one vacant, one let at £3,920 p.a.
Three bedroomed first floor flat let at £5,712 p.a
If fully let the combined income could be circa £13,000 p.a.
